Auction result of T-bills RIKV 20 0316

RIKV 20 0316
Settlement Date 
Total Amount Allocated (MM) 
All Bids Awarded At (Price / Simple interest) 
Total Number of Bids Received 
Total Amount of All Bids Received (MM) 
Total Number of Successful Bids 
Number of Bids Allocated in Full 
Lowest Price / Highest Simple Interest Allocated 
Highest Price / Lowest Simple Interest Allocated 
Lowest Price / Highest Simple Interest Allocated in Full 
Weighted Average of Successful Bids (Price/Simple Interest) 
Best Bid (Price / Simple Interest) 
Worst Bid (Price / Simple Interest) 
Weighted Average of All Bids Received (Price / Simple Interest) 
Percentage Partial Allocation (Approximate) 
 100.00 % 
Bid to Cover Ratio 

Aðrar fréttir

Treasury issues eurobond

Today the Republic of Iceland issued bonds in the amount of 500 million euros, the equivalent of ISK 76bn. The bonds bear fixed interest of 0.625% and have a 6-year maturity, offering investors a yield of 0.667%.

Investors showed keen interest, with demand totalling EUR 3.4 bn, or nearly seven times the size of the issue. The investor group comprises central banks and other institutional investors, mainly from Europe. Joint lead managers for the transaction were Citi, JP Morgan, and Morgan Stanley. 

“This issue confirms the Republic’s open access to global capital markets and demonstrates investors’ confidence in the resilience Iceland has built up in recent years. It enhances our capacity to address the repercussions of the COVID-19 pandemic and reflects our strength and our ability to overcome the economic implications,” said Minister of Finance and Economic Affairs Bjarni Benediktsson. 

During the book building process, the terms improved by some 30 basis points as demand exceeded expectation, resulting in a mere 5bp new issue premium. Almost 200 investors placed orders, almost twice as many as in the Treasury’s last bond issue in 2019.

“This issue is in line with the Treasury’s debt management strategy. It will facilitate other domestic borrowers’ access to foreign credit markets and confirms that the Republic of Iceland has ready access to a large and diverse group of investors. The markets have been lively in the recent term, as many governments are in the same position, attempting to secure long-term financing,” said Bjarni Benediktsson.

May 26 2020
Treasury Bills
Treasury Bill Auction Announcement - RIKV 20 1005 - RIKV 20 1215
Series RIKV 20 1005 RIKV 20 1215
ISIN IS0000031912 IS0000031920
Maturity Date 10/05/2020 12/15/2020
Auction Date 05/28/2020 05/28/2020
Settlement Date 06/02/2020 06/02/2020

On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bills in the Series, with the ISIN numbers and with the Maturity Dates according to the table above. Payments for the Treasury Bills must be received by the Central Bank before 14:00 on the Settlement Date, and the Bills will be delivered in electronic form on the same day.

Further reference is made to the General Terms of Icelandic Treasury bills and General Terms of Auction for Treasury bills on the Government Debt Management website.

For further information please contact Laufey B. Ómarsdóttir, Government Debt Management, at +354 569 9631.